FG To Increase Mining Sector’s Contribution To GDP, Says Alake

Minister of Solid Mineral Development, Dr Dele Alake has said Nigeria Government  is more committed to the growth in energy transition and critical minerals in the country.

Alake, who was represented by Dr AbdulRazaq Garba, Director General, Nigeria Geological Survey Agency (NGSA) disclosed this during the 2023 Nigeria Energy Forum Day 2, held virtually in Lagos.

According to the minister, Nigeria is richly endowed with various mineral types that manifest in multiple occurrences all over the country.

“The goal of the present administration is to increase the mining sector’s contribution to National Gross Domestic Product (GDP).

“Nigeria is investor ready. Today, there are local private players and government led programmes that have advanced exploration projects that fit the investment criteria of investors and junior miners.

“There are opportunities in minerals such as lithium, zinc, gold, tin, bitumen, niobium, chromite and other such minerals.

“Some of these minerals are very crucial in the manufacturing of renewable energy elements like the solar panels, batteries, etc. thus positioning Nigeria as a major player in manufacturing and investments in this field.

“We are ready to work with junior miners and investors within a private sector led play.

“We are open to working with industry experts to strengthen our local mining knowledge and policies to bring us up to speed with more advanced mining nations,” he said.

Political/ Economic Officer, United States Consulate General Lagos, Jordan Lachance, said the shift to renewable energy sources transforms the global energy map.

“These geopolitical trends will impact many interconnected issues, including the demand for critical minerals, the imperative to recycle batteries, the way we power our rapidly expanding economies and the electrification of transport.

‘The United States shows keen interest in Nigeria’s success because in many respects, Nigeria’s success precedes the Africa success, and Africa’s success precedes the world success,” she said.

In her keynote speech, Caroline Emboubou, the Chief Executive Officer (CEO) of All On, said that ‘Solar energy represents a unique proposition to help Nigeria meet its vast unmet energy needs.

“Nigeria is ideally placed to capitalize on technological improvements in the Renewable Energy sector and fulfil its energy needs through reliable, sustainable, and profitable solutions.’

In his remarks, the Group Chairman, NEF, Dr Daniel Adeuyi, said that following the success, NEF 2023 Day 1, on July 2023, in Lagos, the virtual event had a focus on Energizing Industrialization and Sustainable Growth.

He said that over 250 key stakeholders converged to exchange knowledge, originating investment deals valued at over 40m USD, and promote innovations for maximizing energy transition for growth in the Day1.

“In today’s virtual edition, over 20 key speakers will share practical insights, recommend solutions, and foster capacity building across 4 virtual best-in class-workshops.

“This will be on Powering Industrialization, Methane Abatement by US Consulate General, Energizing Communities by GEF-SGP UNDP and Financing Energy & Power by Sterling Bank.

“NEF2023 Day 2 also features the media screening of a Video Documentary titled The Catch Part 2 – Energizing Coastal Communities, supported by GEF-SGP UNDP, and Jinko Solar.

“The documentary highlights how clean energy solutions are contributing to restoring economic productivity for over 20,000 persons in Sagbokoji Island, Lagos, thereby improving livelihoods of women seafood processors, fishermen and children in coastal communities,” he said.

Co-chair of NEF 2023, Engr. Adekunle Makinde, commended participants and companies that participated in the 2023 NEF edition.

Makinde said that the best six Young Energy Entrepreneurs across Africa would be awarded cash grant prizes valued at up to N4m in the finals of the Africa Energy Innovation Competition.

According to him, this is supported by Get.Invest, Johnvents, Sahara, MOJEC, NDPHC, Jinko, Oando Clean Energy Limited, Sunking and Jubaili.